Enterra Feed, a Canada-based developer of insect-based ingredients for animal feed, closed what it called a ‘major global funding round’ yesterday, which was led by investment manager ADM Capital’s Cibus Fund with backing from poultry product supplier PHW Group and an unnamed, family-owned investment group. The company received $5m from Avrio Capital in 2014 and the same amount from Wheatsheaf Investments later the same year, and the latest funding will support the construction of three production facilities by 2021.
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